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viewMedallion Resources Ltd.
(
TSX-V:MDLOTCQB:MLLOFFRA:MRDN
)

Medallion Resources shares now trading on OTCQB after it receives exchange approval

It comes after the OTC Markets approved the move, which, the firm said, also aligns well with Medallion’s focus on production of rare-earth elements (REE)

Medallion Resources Ltd. -
The OTC Venture Market (OTCQB) offers developing Canadian companies the benefits of being publicly traded in the USA but with lower cost and complexity than a US exchange listing.

Medallion Resources Ltd (CVE:MDL) (OTCQB:MLLOF) has revealed that its shares are now changing hands on the OTCQB venture market in New York, increasing the group's access to US-based retail and institutional investors.

It comes after the OTC Markets approved the move, which, the firm said, aligns well with Medallion’s focus on production of rare-earth elements (REE) within North America.

READ: Medallion Resources narrows down search for right location for its rare earth production facility in North America 

"While the TSX Venture Exchange remains Medallion’s primary capital market, our leading position in the REE industry, and the importance of REEs to U.S. industry and defense makes the OTCQB Venture Market a natural fit,” said the group's CEO Mark Saxon in a statement.

"We are working closely with Amvest Capital Inc. of New York for capital markets support, and recently welcomed Talaxis Ltd, a unit of Global commodity trader Noble Limited, as a shareholder and partner."

The OTC Venture Market (OTCQB) offers developing Canadian companies the benefits of being publicly traded in the USA but with lower cost and complexity than a US exchange listing.

Medallion has developed a process to achieve low-cost, rare-earth element (REE) production by exploiting monazite, which is widely available as a by-product from mineral sand mining.

Monazite is used as a source of rare earth elements (REE) in both China and India, where it is considered an attractive feedstock due to its high REE content.

Contact the author at giles@proactiveinvestors.com

Quick facts: Medallion Resources Ltd.

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Price: 0.15 CAD

Market Cap: $10.38 m

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Medallion Resources hails techno-economic assessment for REE extraction...

Medallion Resources Ltd's (CVE:MDL) (OTCQB:MLLOF) (FRA:MRDN) Mark Saxon speaks to Proactive's Andrew Scott following the release of an independent Techno-Economic Assessment (TEA) for its proprietary process that enables sustainable extraction of rare earth elements (REE) from mineral sand...

on 07/14/2021

2 min read